I G Petrochemicals Ltd Share Price

History of I G Petrochemicals Ltd

I G Petrochemicals Limited (IGPL) is India's leading producer of Phthalic Anhydride (PAN), commanding over 50% of the market share. IGPL is also the sole producer of Maleic Anhydride (MAN) in India and manufactures Benzoic Acid and Di-ethyl Phthalate (DEP in the petrochemical industry. It mainly caters to the needs of the Phthalate Plasticizers, Paints, PVC Compounds, Dyes and Pigments, Unsaturated Polyester Resins, Alkyd Resins etc. The Company earlier was a 100% Export Oriented Unit (EOU) and got converted into Domestic Tariff Area (DTA) Unit from 6th November 2008. It was promoted by Mysore Petrochemicals (MPCL) together with its associate companies in technical and financial collaboration with Lurgi, Germany. I G Petrochemicals Limited was incorporated on October 18, 1988 and ... came up with a public issue of 1.06 Crore equity shares at par aggregating Rs 10.61 cr in Sep'91. The proceeds of the issue were utilised to part-finance a Rs 61.85-cr 100% EOU for the manufacture of phthalic anhydride with a licensed capacity of 45,000 tpa. The plant is located at Taloja in Maharashtra This is the largest plant for phthalic anhydride in India and compares favourably with international plant sizes of 35,000 tpa. Phthalic anhydride is one of the important industrial chemical which finds application in the manufacture of plasticisers for PVC cables, leather cloth, PVC footwear, etc. It is also used for manufacturing alkyd resins in the paint industry and the production of certain varieties of dyes and pigments. The first phase of expansion of Phthalic Anhydride plant in the existing plant at Taloja from 45000 to 60000 tpa was completed and the second phase of expansion i.e installation of new Phthalic Anhydride plant of 45000 tpa capacity was completed and trial run production was commenced. Due to fall in price of Pthalic Anhydride in the international market the company incurred a heavy loss in 2001-02 and hence the networth has been eroded and the company has become a Sick unit. The Company started power generation since 19th March 2008. It finalized for expansion capacity of Phthalic Anhydride (PA) by 50000 MT thereby increasing its installed capacity from 116000 MT to 166000 MT per annum at an estimated cost of Rs 225 crores in 2010-11. The Company's expansion project of 50,000 MT got completed during the year and commercial production commenced during September 2013. During the year 2016, the Company formed a wholly owned subsidiary (WOS) namely IGPL (FZE) with Sharjah Airport International Free Zone Authority, UAE to manufacture Maleic Anhydride (MA) through Joint Venture. It acquired the Maleic Anhydride Business from Mysore Petro Chemicals Limited situated at Taloja in Raigad Dist. Maharashtra as a going concern on Slump sale basis with effect from 1st April, 2017 for consideration of Rs 74.48 crores during year 2016-17. It commissioned Phthalic Anhydride (PA- 4) plant with an additional capacity of 53,000 MTPA in December, 2020. Further, it commissioned and introduced the downstream product i.e. Advance Plasticizers with a capacity of 8,400 MTPA. During the year 2024, Company commissioned the PA-5 plant at its existing facility at Taloja. Company ventured to set-up Compressed Biogas Plant to explore the existing and upcoming opportunities with diversification in green energies costing Rs 32 crores in FY 2025.